President signed a law on state guarantees for enterprises affected by the pandemic

25.05.2020

On May 25, 2020, the President signed the Law, according to which the Government of the Russian Federation has the right to provide state guarantees under any conditions not contradicting the Budget Code without making special amendments to the Federal Law "On the Federal Budget for 2020 and for the planning period 2021 and 2022". 

The Law also introduces a fundamentally new type of state guarantees - in favor of one beneficiary under the obligations of several companies. This mechanism is aimed at providing mass support. Unlike the existing one, it makes it possible not to involve the federal executive authorities and the Cabinet itself in the selection of companies, individual decisions on the granting of guarantees and the execution of each guarantee. 

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